Law:

Section:

(a) Stamp Act (II of 1899)-------S. 2 (5)---"Bond"---Defined---Bond is an instrument which can be divided into two parts, i.e. obligation and condition---In the first part the obligor binds himself to pay a sum of money and in the second, terms of agreement are set forth with condition that on performance or non-performance of any specific act, bond would be void---Bond is merely a form of contract under which a person binds himself to pay money either in present or at some future time conditionally---Bond must be attested by a witness and should not be payable to order or bearer. (b) Negotiable Instruments Act (XXVI of 1881)--- ----S. 4---Civil Procedure Code (V of 1908), O.XXXVII, R. 2---Suit for recovery of money on the basis of negotiable instrument---"Pro note" or "bond"---Proof---Suit filed by plaintiff on the basis of pro note was decreed by Trial Court in favour of plaintiff and against defendant---Plea raised by defendant was that document relied upon by Trial Court carried signatures of marginal witnesses, therefore, it was not "pro note" and was a "bond"---Validity---To determine nature of an instrument whether there was a promise to pay, the best was to see what was intention of parties and what was instrument in common acceptance of person among whom it was used---How the instrument was described by parties themselves was just one of the elements to be considered and nothing more---In order to amount to a promissory note, an instrument must simply contain a promise to pay and nothing else---Evidence produced by plaintiff was confidence inspiring and trust worthy as against evidence produced by defendant---Plaintiff had fully proved that defendant was responsible to pay Rs.100,000 to plaintiff under pro note and Trial Court had rightly answered issues in favour of plaintiff---High Court declined to interfere in and decree passed by Trial Court---Appeal was dismissed in circumstances. Abdul Rauf v. Farooq Ahmad and another PLD 2007 Lah. 114; Abdul Hameed v. Muhammad Afzal Atif PLJ 2012 Lahore 500; Ram Narayan v. Bhagat and another v. Ram Chandra Singh and others AIR 1962 Patna 325 and Muhammad Ashraf v. Muhammad Boota C.A. 1784 of 2009 ref. JUDGMENT…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492